4 Ways Estate Planning Allows You To Take Control

4 Ways Estate Planning Allows You To Take Control

By Melinda Gustafson Gervasi

March 30, 2023

There is a day for everything, including March 30th, which celebrates taking control of one's own life.  While this day was originally linked to the assassination attempt on President Regan's life (Secretary of State Alexander Haig said "I am in control here"), it has evolved into a day for celebrating methods one can employ to take control of his/her own life.  From using calendar planners to decluttering to installing organizational systems, updating or creating an estate plan is yet another way for a person to take control over his or her own life.  Here are 4 ways estate planning asserts control:

1. When -- a well drafted power of attorney will state when the document will take effect.  Sometimes the document becomes effective as soon as it is signed by the person creating the form, while other times it may only take effect once the person creating the form has later been declared incapacitated or disabled by a physician.  
2. Who -- creating estate planning documents, such as powers of attorney or a will, allows you to nominate who you wish to make decisions for you if you are alive but too sick to act, or to state who will make decisions if you have died.  If you do not create these documents you leave the decision up to the court system.
3. Where -- estate planning documents are the only legal way to say where your minor children will live if both parents have died.  Naming a guardian for your minor child(ren) is a critically important decision.  Unfortunately many parents cannot come to agreement on where a child should live if both parents die, resulting in a plan never being created.  
4. What -- creating a will allows you to say what will happen to your assets upon your death.  You can be very specific, such as my daughter shall inherit the family piano, or you can be more general, the residue (assets of the estate that remain after all bills, taxes, expenses and specific gifts have been satisfied) shall be shared equally between my surviving children.  If you do not draft a will, it is more likely than not the laws of your home state will control what will happen to your probate.  In my home state of Wisconsin Chapter 852, Instetacy, states what happens to a person's property if they died without a will. 

Image by M. Gustafson Gervasi, 2023

There is very little we can control in this life, but the when, who, where and what of estate planning are easily controlled by creating or updating your estate plan.  Thank you for reading.  As a reminder a blog is not a substitute for an attorney, it is meant to spark thought and reflection.  Please seek the counsel of a licensed attorney in your state of residence for advice specific to your unique situation. 

5 Things Dog Owners Should Consider When Doing An Estate Plan

5 Things Dog Owners Should Consider When Doing An Estate Plan

By Melinda Gustafson Gervasi

March 23, 2023 

Prepare yourself for a cuteness overload on your social media accounts today; it's National Puppy Day!  Established to encourage people to adopt a dog from a shelter or rescue dog, National Puppy Day is the perfect time to review 5 things dog owners should consider when creating or updating an estate plan.  According to the ASPCA, approximately 3.1 million dogs a year are surrendered to animal shelters.  Of those surrenders, two of the top reasons cited are lifestyle change (such as a chronic illness) or a move to a home that does not allow for a dog (for example, moving to assisted living).  With a small amount of planning in advance you may be able to provide continuity of care for your beloved companion if you were to become ill or pass away.

1. Wallet Alert Card -- create a simple card to keep in your wallet that would alert EMTs or other emergency personnel to the fact you are a dog owner.  If you were incapacitated and unable to return home for the evening feeding or walk with your dog, who should be contacted?  Include a name, phone number, email and other information to facilitate back up being called.  Unlike cats, dogs cannot be home alone for too long without care;
2. Authorization Form at Your Veterinarian's Office -- contact your vet's office to see if they have an authorization form that allows you to nominate an alternative person to obtain care for your dog if you are unavailable.  Alert the person(s) you list on the form that you have given them this permission.  Make certain they know who to contact the vet's office.
3. Create a Power of Attorney for Finances with Animal Care Provisions -- review your Power of Attorney for Finances to see if it includes language granting your agent authority to secure medical or boarding care for your dog if you are unable to do so yourself. If you were facing a weeks or months long illness, it would be easier for all involved if your documents clearly stated your agent had the authority to make critical decisions about your dog(s).
4. Make a Plan for Long-Term Care -- you may have thoughts on where you would prefer to receive long-term care, but what about your dog?  Where would your pup go if you were no longer able to live independently?  Are there family members or friends who can open their home and hearts to your dog?  Is there a rescue organization that could provide foster care for the long-term?
5. Leave Your Dog to a Caring Home in Your Will -- perhaps all you need is to make a simple gift of your dog and some money to a trusted person or rescue organization via your will, or you may have a situation that calls for a pet trust to be created to care for your dog after your death.  There are several options available for you to use, talk with an attorney licensed in your state of residence to find the best fit for your situation. 

Thanks for reading.  Leave a comment if you have additional tips or suggestions unique to dog owners creating or updating an estate plan.  Remember that a blog is meant to spark conversation and is not legal advice.  Be well and thank you for reading. 

Estate Planning and the Recipes We Love

Estate Planning and the Recipes We Love

Written by Melinda Gustafson Gervasi

March 14, 2023

March 14th marks Pi Day (3.14159265359)  Celebrated each March 14th, the day allows math fans to challenge one another on who can receite Pi the longest, play math games, and of course, eat pie.  My house is home to three math enthusiats, so it stands out in my life.  Today also seemed like a logical day to share with you the wisdom bestowed in the Scholastic book, Pie, by Sarah Weeks.  

Like many children's books, Pie begins with a child experiencing the death of a loved one.  In this case 10 year old Alice suffers from the sudden death of her beloved Aunt Polly, the Queen of Pie in Ipswitch, Pennsylvania where she operated the bakery PIE.  Having won 13 consecutive Blueberry Awards (a national pie contest), Aunt Polly was quite famous for her wonderful pies.  Wisely, Aunt Polly also embraced her own mortality and completed a will in which she left her famous pie crust recipe to her cat Lardo, and the cat to her niece, Alice.  And so the mystery begins -- how does one leave a recipe to a cat?

The reader follows Alice and her buddy Charlie on a quest to unravel the mystery.  To my delight the story takes an unexpected path, one I won't ruin for those planning to read the book.  I can say that the adventure is a sound reminder of how it is important to make plans for the things you hold dear, such as beloved family recipes.  

Set in the 1950s, the story involves how one writes down a recipe that will live beyond them.  At one point a character in the story suspects that Aunt Polly had tatooted the recipe on Lardo's stomach.  In today's modern world you have options for preserving and passing on recipes that hopefully will avoid the drama and grief displayed in Pie. 

1. Hand write and laminate -- take the old school route and write down a recipe, but add lamination to control for the fragility of ink and paper;
2. Use online tools to make a book of your favorite recipes, even including pictures.  Everyone can be a publisher with a few simple clicks;
3. Become a director and make your own video while you prepare your recipes.  This is a great way to capture those little techniques that are not written down;
4. Go with a Google Docs to type up your recipes and use the SHARE function to allow easy access to your loved ones; and
5. Explore online recipe organizers.  This aritlce from The Kitchen Chalk Board offers 10 different options.  I could not easily determine if any of these sites allow for your file to be accessed by loved ones after you die.  Additionally, web sites may be out of operation ten, twenty or thiry years down the road when your eathly time has ended.

If you have a favorite way to share recipes with your loved ones that is not noted here, please leave a comment and spread the wisdom!  Thanks for reading, and remember that a blog is meant to spark thought and reflection.  It is not a substitute for an attorney.  It is best to seek counsel from an attorney licensed in your state of residence.  Be well and thank you for readhing. 

And the Oscar Goes To.....The Descendants (2011)

And the Oscar Goes To......The Descendants

By Melinda Gustafson Gervasi

March 10, 2023

Nominated for five Oscars during the 84th Academy Awards, The Descendants won for best-adapted screenplay, thrusting a movie about estate planning into the mainstream.  Based on the 2007 novel by Kaui Hart Hemmings the story follows Hawaiian attorney Matthew King and his daughters' journey following the traumatic brain-injury suffered by his wife in a boating accident.  While the majority of the movie explores the emotions and workings of end-of-life decisions, removing medical support, and processing grief, there is a sub-plot; one involving a land trust.

King, and a host of his cousins, are descendants of Hawaiian Roylaty.  He is the sole trustee of a land trust holding hunderds of untouched land on Kauai.  Under the Rule Against Purpetuities, the trust must end in 7 years.  Rather than have the trust end and the land distributed in shares to an assortment of descendants, the family plans to sell the land while it is in the trust, setting up a distribution of hundreds of millions of dollars in cash rather than land.  Matthew is the sole trustee and the ultimate decision of which developer to sell to is his and his alone.  Without giving away the end, I will say that Matthew's ultimate decision is not well-received by this cousins.  One cousin, Hugh, played by Beau Bridges, lashes out saying something to the extent of "you may be a lawyer and our cousin, but don't think we won't come after you!"

This line hit me with a lot of emotion; while I am an estate planning and probate attorney, I am also a mother. Taking care of our families is often a primary motivation for creating an estate plan in the first place.  As such, it is important to think about whether nominating a family member in an administrative role is wise.

In the story, Matthew explains that he has always lived off of his lawyer salary, while other cousins made risky decisions and are desparate for money.  It is not uncommon for heirs to have inflated expectations about an inheritance.  When those expectations are not met with the reality of the situation, the heirs may lash out at the one person in control.  In this case it is their cousin Matthew. Many people's default answer to who should be a trustee is a trusted family member.  However, naming a financial instution may have many benefits.  One of which would be preservation of family harmony.  Going after the "banker" is far different than alienting your cousin.

Thank you for reading.  Remember that a blog is not legal advice, but rather a way to spark discussion and reflection.  It is best for you to seek counsel from an attorney in your state of residence for help with your estate planning needs.